Nationwide Building Society and Flagstone, the London-based cash platform, have become partners. The deal between the two companies will make new savings products available to Flagstone clients and makes Nationwide the 35th deposit taker to join Flagstone.
The deal marks a year of rapid growth for the fintech firm, who, over the last 12 months, have signed up 11 banks and building societies to its market-leading deposit marketplace.
Flagstone gives its customers rates from the UK’s largest building society as well as more than 550 deposit accounts from some of the UK’s largest banks and challenger banks.
As of the 4th of July, Flagstone’s customers have also had access to four Nationwide savings products; an instant access account and 45-day, 95-day and 125-day notice accounts.
Launched in 2013, Flagstone is now the exclusive cash deposit platform provider to some of the biggest wealth managers in the UK.
In May, the firm saw investors, including Moneysupermarket Group, invest £11m in Flagstone to continue to fuel their growth.
Andrew Thatcher, Co-Founder and Co-Managing Partner at Flagstone said: “We are thrilled that Nationwide have decided to join the Flagstone platform and enter into an agreement of this type for the first time.
“Being able to partner with a business that has the quality and heritage of Nationwide is testament to not only our growth but also the hard work of the teams on both sides who have worked closely together to ensure that clients will have even greater choice and flexibility when looking for competitively priced savings products. We look forward to a long and fruitful relationship with Nationwide and welcome them in joining the other UK high street banks who have contracted to our platform this year.”
Darren Bailey, Head of Business Savings at Nationwide said: “We are delighted to be offering Nationwide’s Business Savings products on the Flagstone Platform.
“Flagstone customers will now be able to benefit from both Nationwide’s broad range of competitive products and the peace of mind that comes with depositing with the world’s largest building society.”